G4S Says Shareholders Too Late To Join Suit Over SFO Probe
Law360, London (November 5, 2020, 4:02 PM GMT) -- Outsourcing giant G4S PLC urged a court on Thursday to cut down a suit accusing the company of artificially inflating its stock price by concealing fraud in its government contracts, arguing that investors had waited too long to add new claimants to the lawsuit.
The security services company wants to cap the number of claimants in the suit brought in 2019 by institutional investors including Allianz Global Investors GmbH and Wells Fargo Fund Management LLC. They accuse G4S of allegedly publishing false statements and withholding information about its security business since September 2011 to push up its share price, which crashed after the Serious...
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